Mahindra and Mahindra (M&M) today announced foray into construction equipment business by launching its first motor grader.

The Mumbai-based company today rolled out its first motor grader -- Mahindra RoadMaster G75 -- under the business vertical.

"We are targeting to sell around 200 units over the next one year. We already have orders for 50 motor graders as of now," M&M President Automotive Sector Rajan Wadhera told PTI.

The company's motor grader is priced at Rs 34.99 lakh and around one-third of the cost of big ones being sold by other companies, he added.

The company would introduce other products after establishing the product in the market, Wadhera said.

The RoadMaster G75, being rolled out of the company's Chakan plant, has been designed and developed after an in- depth understanding of the needs of the road contractor fraternity, he added.

"Our aim is to liberate them from deployment of various sub-optimal methods with limited mechanisation and thereby, improve their productivity," Wadhera said.

M&M Truck and Bus Division and Construction Equipment Division CEO Vinod Sahay said the motor grader is most suitable for constructing small to medium roads as well as widening of state and national highways.

"It is also apt for applications such as embankment or earthwork for laying of railway tracks and levelling of large plots for industrial construction," he added.